Fabulous Ferraris Go on the Auction Block

SHARES

Since 2010, the average price of collectible Ferraris is up more than 70 percent, according to Hagerty, the collectible-car insurer and valuation firm, and the highest price ever paid for a vintage Ferrari, the $35 million plunked down for for a 1962 Ferrari GTO, came as recently as last June.

At this weekend's auction at the Amelia Island Concours d'Elegance in Florida, the march of fabulous Ferraris continued. While the estimates at Amelia topped out at about $2 million, the assembled collectors were paying close attention to see if the recent skyrocketing prices still have room to run, or turn out to be an unsustainable bubble.